Keppel Acquires Shell's Stake in CRA to Fully Control the Company

TigerNews SG

11/04

The company is focused on expanding its renewables sector.

Keppel Limited, in partnership with Keppel Asia Infrastructure Fund and an additional co-investor, has purchased the remaining 49% ownership in Cleantech Renewable Assets (CRA) from Shell Singapore.

Upon finalization, Keppel intends to enhance its business in renewables and broaden its presence as a global asset manager and operator.

Based in Singapore, CRA is a solar energy platform that targets the commercial and industrial sectors, with assets in India and Southeast Asia.

The aforementioned transaction is not projected to significantly impact Keppel's earnings per share or net tangible assets per share for this fiscal year.

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